Robeco Institutional Asset Management B.V. Acquires 5,548 Shares of WEX Inc (WEX)

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Robeco Institutional Asset Management B.V. boosted its holdings in WEX Inc (NYSE:WEX) by 41.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 19,048 shares of the business services provider’s stock after buying an additional 5,548 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in WEX were worth $3,628,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Winslow Evans & Crocker Inc. purchased a new position in WEX during the 2nd quarter worth approximately $206,000. Hartford Investment Management Co. purchased a new position in WEX during the 2nd quarter worth approximately $214,000. Oakbrook Investments LLC purchased a new position in WEX during the 2nd quarter worth approximately $295,000. Evergreen Capital Management LLC purchased a new position in WEX during the 1st quarter worth approximately $258,000. Finally, Psagot Investment House Ltd. grew its position in WEX by 833.3% during the 1st quarter. Psagot Investment House Ltd. now owns 1,680 shares of the business services provider’s stock worth $263,000 after purchasing an additional 1,500 shares in the last quarter.

WEX stock opened at $183.00 on Monday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.44 and a current ratio of 1.44. WEX Inc has a 12 month low of $101.69 and a 12 month high of $198.82. The firm has a market cap of $7.87 billion, a PE ratio of 38.94, a P/E/G ratio of 1.61 and a beta of 1.79.

WEX (NYSE:WEX) last posted its quarterly earnings results on Thursday, August 2nd. The business services provider reported $2.09 EPS for the quarter, beating the consensus estimate of $2.05 by $0.04. WEX had a net margin of 14.61% and a return on equity of 15.61%. The business had revenue of $370.88 million for the quarter, compared to analysts’ expectations of $366.21 million. During the same period in the previous year, the company posted $1.26 EPS. WEX’s revenue was up 22.0% on a year-over-year basis. equities analysts expect that WEX Inc will post 7.54 earnings per share for the current fiscal year.

In related news, Director Regina O. Sommer sold 1,099 shares of WEX stock in a transaction on Monday, August 6th. The shares were sold at an average price of $188.47, for a total value of $207,128.53. Following the completion of the sale, the director now owns 12,910 shares of the company’s stock, valued at approximately $2,433,147.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Melissa D. Smith sold 5,000 shares of WEX stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $190.00, for a total transaction of $950,000.00. Following the completion of the sale, the chief executive officer now directly owns 72,544 shares of the company’s stock, valued at approximately $13,783,360. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,335 shares of company stock worth $3,461,862. 4.57% of the stock is currently owned by corporate insiders.

Several equities analysts have weighed in on the stock. SunTrust Banks reiterated a “buy” rating and set a $215.00 price objective on shares of WEX in a research report on Friday, August 3rd. Citigroup lifted their price objective on shares of WEX from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Friday, July 20th. Morgan Stanley lifted their price objective on shares of WEX from $188.00 to $190.00 and gave the stock a “hold” rating in a research report on Friday, August 3rd. Wolfe Research assumed coverage on shares of WEX in a research report on Tuesday, July 17th. They set a “market perform” rating on the stock. Finally, Deutsche Bank boosted their price target on shares of WEX to $230.00 and gave the company a “buy” rating in a report on Friday, June 22nd. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. WEX has an average rating of “Buy” and an average price target of $179.75.

About WEX

WEX Inc provides corporate card payment solutions in North and South America, the Asia Pacific, and Europe. It operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment offers fleet vehicle payment and processing services.

Further Reading: How are Outstanding Shares Different from Authorized Shares?

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Institutional Ownership by Quarter for WEX (NYSE:WEX)

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